Pacific Maritime Association

To Our Stakeholders, 2023 was a year marked by the agreement of a new six-year coastwise contract between PMA and the ILWU and the announcement of a transition of leadership at the top of our organization. Securing a new six-year contract governing the West Coast waterfront capped a 14-month negotiation that attracted local, national, and international attention. We appreciated the involvement of the White House to support the collective bargaining process which resulted in a contract that enhances wages and benefits for ILWU members while protecting important automation rights that enable terminal operators to introduce new technologies that promote sustainability and more efficient operations. Importantly, the news of the agreement and the duration of the contract provide stability to the shipping community at a time when it is critical to win back market share losses of containerized cargo at West Coast ports. Maintaining and growing cargo volumes is fundamental to job security for workers across the supply chain, including longshore workers, truckers, rail workers, warehouse personnel, and logistics professionals. The contract agreement also set the stage for PMA to move forward with our long-anticipated executive leadership succession plan. After two decades at the helm, longtime President and CEO Jim McKenna announced his retirement, with Chief Operating Officer Steve Hennessey being appointed by the Board to lead the organization into the future. Jim's remarkable career in the maritime industry spans five decades; he leaves a tremendous legacy at PMA and throughout the West Coast waterfront. Under Jim's leadership, PMA established the blueprint to bring marine terminals into a new era, growing terminal capacity and ILWU jobs in the process. To learn more about Jim's accomplishments, please turn to page 14. As we pass the leadership torch at PMA, we do so with a continued focus on the same priorities that have driven our organization for decades. As a steward of West Coast ports, PMA will continue our work to protect and expand the role our ports play in creating quality jobs and careers – from the terminal throughout the entire supply chain – and strengthening the economic vitality of communities up and down the West Coast. Sincerely, James C. McKenna Outgoing President and CEO Stephen Hennessey Incoming President and CEO PACIFIC MARITIME ASSOCIATION 3

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